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Trading on Kalshi involves risk and may not be appropriate for all. Members risk losing their cost to enter any transaction, including fees. You should carefully consider whether trading on Kalshi is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk. Information is provided for convenience only on an "AS IS" basis. Past performance is not necessarily indicative of future results. Kalshi is subject to U.S. regulatory oversight by the CFTC.
GOLD
PERPETUALS · UP OR DOWN

Gold

15.8x

Gold Price Chart

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Perpetual futures involve substantial risk of loss and are not suitable for all customers; you may lose all funds you commit, including fees and commissions, and you may be required to post additional margin or make additional payments. All trading decisions are your own and at your own risk. By proceeding, you acknowledge that you have read the CFTC Risk Disclosure Statement and agree to the Terms of Use and Customer Agreement.

LiveData from Kalshi traders
People are buying
50% Up50% Down
Trading hours24/7
Volume 24h$46.8M
Funding rate—
Annualized funding rate (7d)—
Max leverage15.8x

Gold is a physical metal that has functioned as a store of value for thousands of years and is widely used as a hedge against inflation and currency weakness.

Key factors in play: Central banks have been buying gold at an elevated pace in recent years, according to the World Gold Council, as some countries look to reduce their reliance on the US dollar. Periods of geopolitical tension also tend to boost demand for gold as a safer place to hold money. Because gold pays no interest, its price is also sensitive to Federal Reserve policy, rate expectations, and overall US dollar strength.

What to watch: Federal Reserve meetings, CPI/PPI inflation releases, and comments from Fed officials.

FAQs

Does the market end?
Nope! That's the beauty of perps. You can close your position whenever you want to.
What is leverage?
Leverage lets you take a larger position with less money out of your pocket. It increases the overall size of the position, but it also affects how sensitive you are to big price swings — and liquidation if the price swing moves against you.
What is liquidation?
Liquidation is designed to protect you. When you open a position using leverage, the money you put in is used as a deposit. If the asset price moves against you, that deposit shrinks. If it gets too low to the minimum required to keep the position open, Kalshi starts closing your position to protect you from losing more than you put in.
What is the funding rate?
Kalshi runs a funding cycle once a day, where the perps price is adjusted to be the same as the underlying index price. Depending on whether the perps price is adjusted up or down, users holding long positions and users holding short positions pay each other a fee. Any portion of the funding interval when the underlying market is closed does not contribute to the funding rate.Funding fees are strictly capped at 2% of your position per funding cycle. Kalshi makes no money from this.
How are Perpetuals different from predictions, stocks or options?
Perps are unique in 3 ways:1. Two-way trading: Trade on whether the price will go up or down. Stocks only make money if the price goes up.2. No expiration: Predictions and options have a strict end date. Perps never expire. You can hold your position for five minutes or five months, and cash out whenever you want.3. Trade with leverage: Control a bigger position with less upfront cash.
Are Kalshi's Perpetuals regulated?
Yes. Kalshi's Perpetuals are CFTC-approved true perpetual futures. Kalshi is the first company in US history to offer regulated perpetual futures to American traders.
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